As the city of Beaufort examines possible revenue decreases due to ongoing property reassessment, officials are releasing additional information to help residents understand the process.
However, much will remain unknown until April, when property reassessment estimates are expected to be firmed up. Even afterward, many appeals are expected.
Preliminary estimates from Beaufort County indicate the city's property tax base will decrease from $62.4 million to $58 million -- a difference the city may make up with tax rate changes.
Property tax changes will vary widely, city finance director Kathy Todd said. Where one resident might have a lower tax bill than in the past, their next-door neighbor might have a tax increase depending on how much value their property lost during the reassessment.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
The city is also considering other ways to make up for the decline in revenue, including changing some fees.
A fact sheet on reassessment created by the city and Todd's presentation from Tuesday's City Council meeting can be accessed by clicking on the links at right, and will be available at www.cityofbeaufort.org.